BUZZ-Natgas firms fall on rising output

Reuters12-14
BUZZ-Natgas firms fall on rising output

** Shares of natural gas down, as natgas futures fell about 2% from a 13-month high reached in the prior session NGA/

** U.S. natgas prices NGc1 down 3.6% at $3.3 per million British thermal units (mmBtu), after the contract closed at its highest since November 2023 on Thursday

** Natgas prices fell on increased supplies as producers keep pulling more gas out of the ground in anticipation of rising demand from cold winter weather and higher gas flows to liquefied natural gas $(LNG)$ export plants

** LNG firms - CNX Resources CNX.N falls 1%, Energy Transfer ET.N down 1.1% and New Fortress Energy NFE.O down 4.5%

** ETFs - United States Natural Gas Fund UNG.P down 4% and ProShares Ultra Bloomberg Natural Gas BOIL.P falls 3.1%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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